Telegram has hit a big milestone, reaching 900 million users. This surge in users has boosted the Telegram Open Network (TON) by a whopping 17% in just three days.
TON is a blockchain that works closely with Telegram’s massive user base. With Telegram pushing for more cryptocurrency use, TON is benefiting from this growth.
Integration of TON with Telegram
TON’s integration with Telegram allows users to conduct transactions directly within the app, utilizing Telegram’s built-in wallet. This integration facilitates smooth transactions on TON’s blockchain network, known for its low transaction costs and fee-free transfers for USDT. This fee-free structure appeals to users seeking frequent transactions without hefty fees.
TON/USD Chart by TradingView
Despite the convenience offered by integrating a wallet into a messaging app, there are significant security concerns. Critics argue that while such wallets are suitable for daily transactions, they may lack the security measures necessary for safeguarding large asset holdings. For users prioritizing security, traditional hardware wallets are often recommended due to their robust security features.
Innovative Features within Telegram
Despite concerns, the Telegram ecosystem offers unique features, hosting various apps and bots that enable innovative interactions with wallets. For example, users can participate in “farming” activities, engaging in decentralized finance (DeFi) directly through Telegram using TON or other tokens. These features not only enhance user engagement but also promote the integration of cryptocurrencies into everyday applications.
The growth of TON blockchain is closely linked to the expansion of Telegram’s user base. As Telegram delves further into the crypto space, TON stands to gain increased adoption and utility. However, this growth must be carefully balanced with considerations of regulatory compliance and security. These factors will play a crucial role in determining TON’s long-term viability amidst the competitive landscape of cryptocurrency.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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